Financial Management
Attain Financial Clarity
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Real-time Financials
Keep abreast of your company’s financial performance anytime.
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Quicker Period-end Closeouts
Journal entries from throughout the system are posted automatically and are easily reconciled.
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BIR CAS Compliant
CAS rules and regulations are built into the system. No add-ons required.
Flexible Reporting
Format the financial report you need without resorting to Excel.
General Ledger
ERIC General Ledger provides up-to-date and accurate information on your company’s financial condition. Journal entries from other ERIC modules are posted in real time and are easily reconcilable allowing you to close your books early.
◣ Flexible chart of accounts setup with multiple segments representing divisions, departments, and profit/cost centers.
◣ Multi-currency support
◣ Journal vouchers with recurring and reversing options
◣ Upfront or period-end allocations of G/L Balances
◣ Financial reports: Balance Sheet, Income Statement, and Cash Flow Statement
◣ Built-in Financial Report Writer for user-customized financial reports
◣ Drill down capability for all financial reports
◣ Multiple budget scenarios and allocation routines
◣ Intercompany consolidation
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Accounts Receivable
ERIC Accounts Receivable facilitates effective cash flow management and improves collections. On-line inquiry and reporting facilities help identify past due or delinquent accounts and customers exceeding their credit limits.
◣ Cash receipt processing with provisional receipt, collection receipt, and official receipt printing
◣ Deposit slip preparation and printing
◣ Replace provisional receipts with official receipts
◣ Credit and Debit memos
◣ Returned check processing
◣ Customer deposits and advances
◣ Outstanding receivables reports with user-defined aging periods
◣ Customer Statements with dunning messages
◣ Tax Withheld at Source (TWAS) Processing
Accounts Payable
ERIC Accounts Payable effectively manages supplier payables and schedules disbursements. Extensive query and reporting options give immediate access to payables information and recommendations cost-saving measures.
◣ Invoice payables with three-way invoice matching
◣ Cash disbursements with bank balance sufficiency checking
◣ Check voucher printing
◣ Debit/Credit Memos
◣ Miscellaneous payments
◣ Advances to suppliers
◣ Check Reversal
◣ Hold/Release Payables
◣ Payables aging reports
◣ Withholding tax processing all required BIR forms and reports
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Cash Management
ERIC Cash Management provides additional tools to manage and audit cash related transactions. It also provides reports to project future liquidity scenarios to alert you of potential problems
◣ Petty cash processing with cash advances and expense liquidation
◣ Multiple petty cash counters and shift closing
◣ Intrabank fund transfers
◣ Automatic bank reconciliation with electronic bank statements or paper statements via OCR scanning
◣ Foreign currency revaluation
◣ Projected cash flow reports
Fixed Assets
As your company acquires more fixed assets, the task to account for their whereabouts and depreciation costs becomes more tedious and time-consuming. The ERIC Fixed Assets module was designed to address this need, allowing you to maintain useful information of each asset from the time of acquisition to disposal.
◣ Fixed assets depreciation using straight line, declining balance, double declining or sum of years digits methods
◣ Fixed asset transfer
◣ Fixed asset disposal or abandonment
◣ Asset label template and printing
◣ Fixed asset custodian assignment
◣ Asset depreciation schedules
◣ Asset monitoring and accountability reports
